No Bidders For Wiederhorns Mansion House Goes Back To The Bank

Dated: April 5 2014

Views: 557

The foreclosure auction Wednesday for the West Hills mansion formerly owned by Andy Wiederhorn didn't attract any bidders willing to put up the minimum $3.36 million bid, meaning the house will remain the property of lender CitiMortgage.

It was the largest foreclosure auction in Multnomah County history.

The house is worth $6.8 million,  according to the tax assessor. Wiederhorn  tried to sell the property for $5.7 million in 2011. 

In a phone interview before the auction, Wiederhorn said he didn't get any bids on the property for "6, 5, 4 or $3 million" when it was on the market.
Wiederhorn said he reached a deal with CitiMortage last year to return the property to the bank. Read more here...
RC
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

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